Niles,
I too like ALY at these levels. I own some of it and shall ber adding more this coming month. Adding because my NE should be called away from me on a covered call. That will give me a nice profit and some cash to invest. I'm going ot let the NE get called away and move into ALY plus HERO because I agree with what you said. The ones that got knocked down the most last time came back the hardest. I think ALY is a good play, althugh I"ll cover it with calls too and limit my upside (While protecting my downside). I'm actually buying more of HERO, as I think it is going to react stronger on the next leg up, but I like both of them.
And that RSFF that you and I talked about too, of course. Still my #1 favorite for the entire 2008 year, as they go from the debacle of the merger to showing solid earnings and huge revenues.
ANyway, I"m losing DO, NE, and SLB all in the next two months, all at nice profits. Adding to HERo and ALY in that sector.